​​​​​​​PPS Living Annuity​

The PPS Living Annuity is a post-retirement product that invests accumulated retirement capital while providing a regular income.

It allows you to reinvest the savings in your retirement annuity, pension, provident or preservation fund once you retire and to draw between 2.5% and 17.5% of your net investment value annually. It is important to note that the income drawn from your PPS Living Annuity is not guaranteed and will be affected by the performance of the underlying unit trusts in which you are invested. You retain full flexibility to change your level of postretirement income annually and to switch between underlying unit trusts as your circumstances change, without incurring any transaction charges.

Ad hoc: Proceeds following the retirement from an additional retirement fund may be combined with your existing PPS Living Annuity

Transfers

You may transfer an existing living annuity to the PPS Living Annuity, as well as transfer your PPS Living Annuity to another registered living annuity. This is known as a Section 37 transfer.

Annuity Income

You may choose to receive your income monthly in arrears, quarterly, half-yearly or annually in advance. You may change the level of income and the frequency of your income withdrawals on the anniversary date of your investment. Current legislation limits your annual annuity to a minimum of 2.5% p.a. and a maximum of 17.5% p.a. of the net investment value. It is your responsibility to ensure that the level of income you have selected is a level that will be sustainable for the entire duration of your retirement.

Switching

You may change your selection of underlying unit trusts as often as you choose without incurring a transaction fee. However, should an asset manager charge an initial upfront fee for investing into its unit trusts, this fee would be applied should you switch to those unit trusts.

Cessions

A PPS Living Annuity may not be ceded outright or partially, nor may it be used as security for debt.

Loans

You may not borrow from your PPS Living Annuity.

Tax

Tax will be deducted from annuity income payments in accordance with prevailing income tax legislation, unless specified otherwise. An annual tax certificate will be issued to you.

Death benefits

Upon death, the proceeds of your PPS Living Annuity will flow directly to your beneficiaries. This amount is determined by the market value of your living annuity. Your beneficiaries may choose to receive the money as an annuity or a lump sum payment. If no beneficiary is nominated, proceeds will be paid to your estate.

Cooling-off period

You cannot cancel your PPS Living Annuity as there is no cooloff
period. You can, however, transfer your living annuity to
another registered long-term insurer at any stage.

Once you have selected your solution, you're then able to structure your solution using the carefully constructed or selected funds we have available to you.

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​PPS Funds

Select the option suitable to you

We build diversified funds across managers and strategies to achieve consistent performance over time. Our experienced investment team manages the asset allocation and manager combination of each solution. You just need to select the appropriate multi-managed fund.

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Other Funds

You select from managers on our platform

You choose the appropriate combination of funds from our pre-approved list to construct the solution you want. Our online functionality allows you to manage your overall asset allocation and change the combination of funds at any time.

The PPS Managed Share Portfolio is accessible by intermediated investors only, and is offered as an investment option within PPS Investments' range of retirement funds. The PPS Managed Share Portfolio provides direct access to securities listed on the Johannesburg Stock Exchange (JSE). Managed in conjunction with a selected stockbroking company, this offers unique advantages to discerning, high-net-worth investors who seek personal involvement in managing their savings.

Depending on your preference, there are a few ways you are able to invest with us.

​Invest via an adviser

We always recommend seeking the advice of an experienced and qualified financial adviser to help you set financial goals, save sufficiently for these goals and stick to your investment plans. Should wish to find a PPS Investments accredited adviser, leave your details here and someone will contact you shortly.

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Invest Now

With the InvestNow functionality, you're able to place new investments, top up existing investments, switch or make withdrawals. And in-app notifications keep you updated on the progress of your transactions. A nifty retirement calculator and access to key documents like tax certificates are added benefits. Click here to use this functionality. ​

Printing and completing an application form

You're also welcome to print the application form and send it to our Validations Team at admin@ppsinvestments.co.za. For any further support, our dedicated client service teams are available between 8:00 and 17:00, Mondays to Fridays at 0860 468 777 or clientservices@ppsinvestments.co.za to assist you with your transaction.

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We at PPS Investments are proud of our unique and unmatched business model of “mutuality” in South Africa. Our financial strength and exceptional growth trends inspire a sense of confidence in PPS Investments.